What is the catch up age for HSA contribution for 2018?

If you're looking to boost your HSA savings, you may be wondering about the catch-up age for HSA contributions in 2018. The catch-up provision allows individuals nearing retirement age to contribute additional funds to their HSA to prepare for healthcare expenses in retirement.

In 2018, the catch-up age for HSA contributions is 55 or older. This means individuals who are 55 or older can contribute an additional $1,000 above the annual contribution limit set by the IRS for that year.

It's important to take advantage of the catch-up provision if you qualify, as it can help you build up your HSA savings even faster, especially as you approach retirement age.

Remember, contributions to your HSA are tax-deductible, and any earnings or withdrawals for qualified medical expenses are tax-free. By maximizing your contributions, including catch-up contributions if applicable, you can enjoy the triple tax benefits that an HSA offers.

Have you ever thought about how to boost your HSA savings? The catch-up age for HSA contributions in 2018 is set at 55 or older, allowing you to contribute an additional $1,000. This catch-up provision is especially beneficial as you approach retirement, enabling you to plan ahead for healthcare expenses.